I am looking to buy an investment property in Brisbane and wish to borrow more than $500,000 (probably about $525,000) using a genuine 5% deposit.
So far I have called and spoken to dozens of brokers and I am having no luck getting over the $500,000 loan size.
I am aware of the 100% st george lend to $600,000 for an investment @ 7.37% (but for various reasons I cannot apply for a st george loan). I have called Liberty who charge a ridiculous amount (9.45%, or something like that) and I have been told that ING will do this, however, when I call them they seem to have no idea. (they say it has to be mortgage insured, but mortgage insurers will only go to $500,000 according to both companies websites).
Can anyone help?Thanks
Hi Rob
Much appreciated, that product sounds great. Are you able to provide a contact number for me to call you, or should I email you all the details?
Thanks!!!
Luke
Sometimes what the lenders do is hedge the risk between both Mortgage Insurers, so $272,500 each. Let me know if you still need any help I have a lender who should be able to do this for you.
Cheers
Liz Wilson
Mortgage Lender
Woops [blush2]
I’ve been getting emails from my lenders saying crazy things about max insured LVR’s…
I’ll get back to you guys too (does anyone care to know?)
Yeah Rob I think they did increase them a few months back to more accurately reflect the state of the housing market in NSW (Finally!)
Liz Wilson
Mortgage Lender
Hi Rob
I have sent you some details in a PM
Look forward to hearing back
Luke
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